Small businesses are defined by the Small Business Administration's Office of Advocacy as those with less than 500 employees. There is limited data available to analyze small business at the local level. For the purpose of this measure the number of small businesses is only counting those with less than 500 employees in Fort Worth. Through an evaluation of the entire small business ecosystem, Fort Worth will be able to create a more efficient and effective continuum of service that fosters economic inclusion. Small business operations are important to our local economy as research has shown that they employ many more local residents than do larger corporations. Additionally, small businesses tend to recirculate their money locally directly impacting local neighborhoods. The city's goal is that small businesses make up 98% of all Fort Worth businesses.
The number of small business operations in our community consistently makes up over 99 percent of all businesses in the City of Fort Worth. Although we strive to attract large business operations and encourage businesses to grow their employment, most operations remain below 500 employees. Technology allows for fewer people to lead operations and for more distributed work. It also spurs for new business creation. The James E. Guinn Entrepreneurial Campus (Guinn Campus) is a one stop resource that helps entrepreneurs start, grow, and develop their business by creating and delivering workshops, programs, and events for emerging and established small businesses, expanding the city’s tax base and creating jobs. The various agencies at work at the Guinn Campus had an economic impact on more than 1,900 jobs in 2017.